yes we do & ye welcome.
what is tahabil balance column in bank cash book
Cheque book balance means bank balance as per cheque book
Debit balance in pass book means, favourable balance in bank Account.
Double column cash book is tha in which there are columns for cash balance as well as for bank balance.
In almost all cases, the balance between the check book and bank statement will not match because any transactions that you did using your ATM/Debit Card will not be recorded in your check book. The balance on your bank statement will be accurate and that shows the actual amount of money you have in your account. If you do not use your check book frequently then the entries in it may be old and outdated.
You use the cash book balance. The bank balance on the bank statement is just used to reconcile to the cash book balance to see what is due to clear after the reporting period and verify that the cash book balance is correct.
what is tahabil balance column in bank cash book
Cheque book balance means bank balance as per cheque book
Balance per book is company's record and balance per bank is banks record on the bank reconciliation.
Debit balance in pass book means, favourable balance in bank Account.
Double column cash book is tha in which there are columns for cash balance as well as for bank balance.
In almost all cases, the balance between the check book and bank statement will not match because any transactions that you did using your ATM/Debit Card will not be recorded in your check book. The balance on your bank statement will be accurate and that shows the actual amount of money you have in your account. If you do not use your check book frequently then the entries in it may be old and outdated.
There may not be difference between cashbook and bank statement balance in bank if all the payments and remittances are debited and credited in the bank account on the month itself.It may not be possible under certain circumstances. For example if a check has been paid to the customer and if the customer has not deposited the check in his/her account naturally the bank account will show an excess balance corresponding to the check in question.Similarly if a check remitted in the account needs clearing from other bank there also possibilities for difference.
A bank statement is neither an asset or owner's equity account. It is a source document for the determination of the correct cash in bank balance account of an entity, and after the final determination thereof, the cash in bank balance will be an asset account. The bank statement is secured from the bank where the entiity maintains an account and said statement is being reconciled with the book balances of the company for the said final determination of correct cash in bank balance prior to month end, quarterly closing and annual closing of a company.
This happens when some transactions are recognized as unpresented and uncredited, they can be in forms of cheque or normal transactions. likewise, transactions like Income credited by the bank, direct deposit made by customs, direct payments by the bank bank charges, interest charges, wrong credit by bank etc, so these will absolutely bring the differences of Your Cash Book and Bank Statements Balance,
Reconciliation process is called "bank reconciliation statement" under which both company accounts balance of cash and bank is reconciled with balance of bank account provided by bank statement. The process is that first of all one statement is treated as base statement, it may be bank statement or books bank account but it is normally bank statement and after that the second statement balance is reconciled for any unrecorded transactions or any cheques issued but not presented in bank and after the reconciliation is completed both book's bank account as well as bank statement balance should be tally otherwise any discrepancies should be investigated and resolved.
to reconcile the cash book balance with the balance on the bank statement